Dried Dates, Market Update
According to recent market data, Iran's stocks are already diminishing, and there are currently no sellers in the market. Additionally, problems with non-delivered contracts have been reported. It is expected that the new crop will be available in October, and there is a possibility of a lack of stock for Sayers.
In terms of Pakistan Aseel Dates, there have been issues with quality due to the monsoon rains at the beginning of the harvesting period. As a result, some contracts have been cancelled because of the smell on the fruits. Although the tests for yeast and molds are okay, the smell is still present in large quantities. Due to higher prices many buyers are hesitant to purchase. The new crop will be available for shipment in August or September.
Rise in exports
Mundus Agri: Iran exported 159,781 mt of dates worth USD 146 million in January-March 2023 as official customs statistics show. This is not only 18% up in terms of volume but also 22% up in terms of value on the 135,590 mt of dates worth USD 119.745 million shipped overseas in the same period in 2022.
Issue is that the early start of Ramadan in March boosted demand for high-quality dates, especially in Turkey, where average export prices range particularly high. Pakistan is, however, the most important export destination for Iran and cheap varieties are preferred here. As global and domestic demand were high prices climbed until mid-April with premium Mazafati dates. They are now expected to drop again as Ramadan has come to an end and attention will slowly start shifting towards the new crop.